Support and Resistance Levels
1. Support Levels:
• 93,262.75 USDT
• 91,551.95 USDT
• 89,779.13 USDT
• 85,122.45 USDT
These levels represent strong buying zones, especially if the price is on the decline.
2. Resistance Levels:
• 96,467.38 USDT
• 99,200.35 USDT
• 103,573.82 USDT
• 108,322.32 USDT
These levels are areas of selling pressure that the price may encounter on the rise.
Formations and Formation Reversals
There is a clear rising support line on the chart. This shows that the market still has the potential to move upwards. However, we observe that the price is forming a pennant or ascending triangle formation in the medium term.
• If the resistance levels are broken, the price may enter a rapid uptrend.
• A downward break could pull the price down to 93,262.75 USDT.
Trend Direction
The current trend is indicating an upward move supported by the green zones on the chart, but a close above the 96,467.38 USDT level is critical for this trend to sustain.
Indicators
• Moving Averages: The red (200-day) and green (50-day) moving averages seen on the chart show that the price is in important support areas.
• Momentum: There are signs of a slowdown at the moment, but this could be a recovery phase for the continuation of the upward movement.
Targets and Prices
1. Short-term Target: 99,200.35 USDT level, short-term upward target.
2. Medium-Term Target: 103,573.82 and 108,322.32 USDT levels stand out as medium-term targets.
3. Long Term Target: 110,000+ levels.
Strategy Proposal
1. For investors:
• Buying Strategy: If there is a drop to 93,262.75 or 91,551.95 levels, a buy can be made.
• Sales Strategy: Gradual sales can be planned at the level of 99,200.35.
2. Risk Management:
• Below 91,000 USDT can be used as stop-loss levels.
• In leveraged transactions, the risk ratio should be kept low.
3. Waiting Strategy:
• If the price closes above 96,467.38, it may create a new buying opportunity.
Overall, the market still retains potential for upside, but careful monitoring of support levels is critical.
